All Forum Posts by: Sanglak Choi

The reason I'm unwilling to deal with repairs is that I also have a job that sometimes sends me to locations where I don't get cell and internet services. So I don't want to be absent when the tenant needs me, and I currently don't know anyone or a property management company that I trust enough yet.

Hi BP,

Quite new here and actually, this is my first post so hello everyone. So far in my education and experience is from single-family homes, so I wanted to know what people's opinions and experiences are about condos.

MY SITUATION:

I'm currently in the process of flipping a single-family home in a moderate-income area in my city and I want to get involved with rentals as well. However, I know that the demand for housing, how much I can charge for rent, and the probability of getting good tenants is much higher on the other side of my city. But currently, I can only afford condos from that part of the city. Is it likely I can force appreciate a condo like a single-family house so I can BRRR?

OTHER MYTHS I NEED DEBUNKING:

- I'm willing to screen and find my own tenants, but I don't want to deal with the calls of something being broken. (ex. plumbing, a leaky roof, noisy neighbour). Are these what I am paying the HOA to deal with on my behalf? and therefore I don't need to account for CAPEX when putting aside money from rent?

- It is difficult to even get the cosmetics of the apartment done?  If I want to put in new floors, or bathroom, the HOA will make me jump through a lot of holes before they approve it?

Thanks in advance,